The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-12-15
Whore Arc IheA.

From tho Birmingham Furnace and Factory.
During the remarkable boom" which
prevailed here last winter the Eiyton Land
company, either directly OF with knowledge
that Others were using their name, gave out
the statement tsat another important en-
torprise had just purchased a site, or was
certain TO select one in q given locality, ard
that property would readily appreciate there
in value. This had the desired effect, for
many lots wcro sold in that locality
with rush that must have been gratifying
10 the stockholders Of the company, whose
management had conceived such a line plan
10 OIL the Golfers OF the company. Then,
the company would advance prices" and
thus allow the fortunate ones 10 unload on
the suckers who were Hooking here from
almost every quarter of the earth. This
trick was played for oil IL was worth, first In
one locality and then another until every
available quarter was gone over, and the
prices were climbing 30 high that even
tho suckers" would no longer take the
gildcd bait, and something else was
needed 10 stimulate salag. II was then that
the final grand coup dc c;at was planned
which was to inaugu~tc another boom Of
larger proportions than any that the city
| Ind ever known, aud capture all the
soin, and that was tito declaration that "tho
Elyton Land comlauy had appropriated a
81, 10000 10 locate industries IN Birming'
ham," This WAS given out with a
great flourish OF trumpcts and even
| our daily prcU took In the bait and
were loud In echoing the praises of that com
pany which was doing % ~ much for Br-
mingham. But When rally important
enterprise came along thnt naturally desired
To como TO Birmingham, was let slip To he
catur, the public saw that they had again
been gullcd, and the result has been most
disastrous to the holders OF real estate who
bought In the last boom with the hope oi
obtaining q profit on their purchases.
| How many Of these can realize on their
| investments any profit today or can even
get their money back without profit In
Justice 10 these as we'll 70, 81 the city, We ask,
whore are all those promised enterprises In
none Of those favored localities which were
promised such great things last winter do
we find single industrial enterprise Ia sus.
tain the fictitious value. placed on property
sold then, while tie poor drludcd Purchasers
now find their paper maturing many
~ whom cannot possibly meet
their payments without the most
serious consequences. We ask a fair minded
public II such trickcry does not merit the sc.
ycrust ccnsnrc' Morr than this, for by those
rapid advance, Ia pficrs, With nothing but
the gullibility 81 the public Tor their iustih.
cation, spirit OF gambling Was inauguatcd
| that induced clerks aud poor men TO In
vest their little 'ul' in birmingham
many OF whom never expected 10 make bu
| the one cash payment which was o. return
them hundreds, perhaps Thousands Of dol
lars. These men have reasonable complaint
against the Elyion Land company. while the
city Is nov feeling the stigma such methods
| placed upon Il. Had the promised
enterprises been Indeed located here
we would have experienced nothing
| like the shrinkngc VI value. which hay,
| taken place, while every branch II business
would have received such an impetus n
| would have created ilush times for The city
Let the odiuin for this pnscni state Of affair
| rrtt where Il belongs. II d a burning sham,
for q grcar city 10 suflpr iruin the greed an,
nycricc Ut single corporation.
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